INTRALOT SELLS ITS MINORITY STAKE IN CYBERARTS & ADVANCES NEW GENERATION TECHNOLOGY
INTRALOT announces that its subsidiary, INTRALOT Interactive USA LLC, concluded the sale of its minority stake in CyberArts, as per the Group’s decision not to exercise the option to increase its participation to 51%.
The company confirmed that the move was a result of its strategic decision to focus its key resources on its own suite of renowned technology and services, to address the new challenges of the combined land based and interactive industries. INTRALOT has recently presented at the major international lottery exhibitions its innovative “Universal Gaming Experience” that seamlessly integrates multiple channels with state-of-the-art gaming content. This flagship technology is perfectly suited for the WLA lottery members to maintain their leading position in the new environment.
“We have chosen not to proceed with the model of CyberArts. New market developments and regulatory initiatives indicate that a new generation of technology, operations and networks is required to compete in a very demanding environment that capitalizes on the convergence of land based with interactive assets. Superior Technology, Services, Networks and Partnerships are the pillars of success, and our recently announced Universal Gaming Experience is our proposition that renders our Customers ready to compete in the demanding new environment”, commented Mr. George Zenzefilis, General Director of INTRALOT Interactive.
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage, which contributes directly to customers’ efficiency, profitability and growth. With presence in more than 53 countries, with approximately 5.400 people and revenues of €1.1 billion for 2010, INTRALOT has established its presence on all 5 continents.